May experiences a 1% increase in home sales

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May sales hovered only 1% above 2017 – yet a more stellar metric is contracts written. 12% more contracts written [a.k.a. pending sales*]  were reported in May than occurred last May.  This indicates that sales will continue to be healthy at least through June.

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

As the table above depicts, listings are up 2% for May in comparison to last May, however, listings are down 2% YTD.  The average sales price and median sales price are slowly increasing and may continue to increase if the number of active listings continues to decline in high demand price ranges  The highest demand prices ranges can be viewed below.

Top Selling Home Sales by Price Class for 2018 YTD

  1. $150,000-$199,999 – 6,799 sales YTD – 1.7 Months of Inventory
  2. $200,000-$249,999  – 5,784 sales YTD –  3
  3. $300,000-$399,999  – 5,004 sales YTD –  5.7
  4. $250,000 – $299,999 – 4,154 sales YTD – 4.5
  5. $100,000 – $149,999 – 3,217 sales YTD –1.4

All of the above price classes, except $300,00-$399,999, are in a strong sellers’ market [they’re hot] having  4.5 months or less inventory.  The $300,000-$399,999 price range is still in a sellers’ market with 5.7 months of inventory. As you can see, the highest demand price classes above are in very short supply – and further pressure [higher demand and fewer listings] can cause serious home price appreciation in the affected categories.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding

Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

 

2017 Mid-Year Single-Family Home Sales UP 7%

Houston single-family home sales closed ahead of June 2016 by 8% and the increase in sales brought year-to-date sales up 7%. One might expect a cool-down after a hot first half of the year, however  the Houston Multiple Listing Service recorded a 19% increase in pending sales.  That large of an increase indicates the market won’t slow down in the near future.  As we have seen in previous years – the hotness of the market is contingent upon price ranges.  Some home price ranges are hot while others are lukewarm.  In reviewing the graph below, it’s very safe to say that homeowners in Houston are enjoying a healthy appreciation on their investment.   Stay tuned and we’ll keep you posted!

Here’s a glance at the trends for the month and year:

 

 

 

 

 

 

 

 

 

 

 

 

 

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

Houston Home Sales by Price Class for 2017

What price ranges have the largest increase in sales in Houston in June? The following price classes experienced the largest increase compared to 2016:

 

 

 

 

 

 

Generally speaking, the first half of 2017 has experienced a really hot market in homes priced below $299,999.  Homes priced $300,000-$399,999 are in a balanced market and homes priced $400,000 and above are in a buyers’ market.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

November Houston Single-Family Homes Sales Experience 23% Rally!

November was a hot month for closing single-family homes sales in the Houston MLS market area!  Sales rose 23% from a year ago and the rally in sales brought year-to-date sales up 3% from a year ago.  With such an uplift in sales for the month, one may wonder if December sales will flatten or possibly deflate.  Not so, as pending sales indicate the opposite. Homes under contract [sales pending] in November rose 16%.  This not only indicates more closings on the horizon but also the year, 2016, could close out as a better year for real estate than 2015.  There certainly appears to have been an end of the year real estate rally that may extend and continue into 2017.  Happy New Year!

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**Metrics reflect all single-family home sales – both new and existing.

Houston Home Sales by Price Class for 2016

What price ranges had the most amount of increased sales in Houston for October YTD? The following price classes experienced the largest increase in sales over 2015:

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Very interesting to note:   All of the above price ranges were in the exact same numerical order last month.  As the end of the year approaches, the months of inventory in these price classes usually go up.  This month all price classes experienced fewer months of inventory than last month.  This indicates that Houston is performing well in terms of absorption of homes on market.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

 

 

 

 

 

 

 

July YTD Home Sales Flatten

July single-family home sales and dollar volume sold experienced a 9% decline leaving July YTD home sales in a flatter position than June YTD. July YTD is still in a positive sales zone, if only by 1%.

Here’s a peek at the most important stats for July and YTD:

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*Pending sales computation changed in May 2015 and therefore July YTD pending sales are inaccurate.**Metrics reflect all home sales – both new and existing.

There is no question that the slowing sales velocity is putting a damper on home price appreciation and will probably continue as the year unfolds.

Houston Home Sales by Price Class for 2016

What price ranges had the most amount of increased sales in Houston July YTD? The following price classes experienced the largest increase in sales over 2015:

————————————————–Months of Inventory
$200,000 – $249,999 – up 18%——————3.2
$250,000 – $299,999 – up 12% —————–4.7
$150,000 – $199,999 – up 6% ——————2.0
$300,000 – $399,999 – up 6% ——————5.8
$400,000 – $499,999 – up 0% ——————7.3

Houston has returned to its’ normal market demand by price of $150,000-$399,999 and most likely these price ranges will remain the most in demand throughout 2016.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries. Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

 

April YTD Houston Home Sales Rise 2%

April single-family real estate experienced a 1% decline in number of home sales with 6,310 units recorded. The decline for the month didn’t hamper the year-to-date sales which were up 2% or a total of 21,235 home sales recorded year-to-date.  Active listings in April increased from last year by 21% so spring and summer home buyers have a better selection of homes to purchase than last year.   Late spring and summer are typically the most active sales months of the year, so the next few months will determine how the market will trend for the year!    Stay tuned to find out how the market develops over the coming months.

Here’s a peek at the most important stats for April and YTD:

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*Metrics for pending sales used to represent pending sales in MLS only. The metric changed last year to include all pending statuses which skews the data. More reliable data for pending sales comparisons will be coming in the future.

Houston Home Sales by Price Class for 2016

Currently, homes in the Houston MLS priced below $400,000 are in a sellers’ market with a months of inventory 5.2 or below. Homes priced $400,000 and above are in a buyers’ market with an inventory of 6.8 months or higher.

What price ranges had the most amount of increased sales in Houston in April? The following price classes experienced the largest increase in sales over 2015 in April:

  1. $200,000 – $249,999 –up 21%
  2. $190,000 – $199,999 – up 18%
  3. $160,000 – $169,999 – up 15%
  4. $250,000 – $299,999 – up   7%
  5. $300,000 – $399,999 – up 7%

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries. Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene